Inventory Down, Prices and Unit Sales Up in 2017

By
Mortgage and Lending with Skyline Home Loans NMLS #311662

The Mortgage Bankers Association has reported on trends from 2017.

While inventory was down almost 15percent home sales actually were up 2 percent. The lack of inventory also drove a nearly 7 percent increase in home prices over 2016.

The number of homes listed for sale in December was down 3.0% which means the trend of lower inventory and higher prices is likely to continue into 2018.

 

Parts of CA are the hardest hit with San Jose having the the lowest inventory and the highest price jump of nearly 32%.

 

San Diego and other parts of Southern CA are also affected by the natural disasters of 2017. Fires have leveled homes from Santa Barbara to San Diego. 

 

The floods in Florida and Texas are also putting a strain on getting enough construction workers to build new construction in Southern CA. The crack down on immigration has also affected the availability of skilled and unskilled labor. 

 

In summary, it looks like prices and interest rates will continue to climb as inventory remains extremely tight.

 

What is happening you your area?

Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

Skyline logo

 

mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

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Rainmaker
371,175
Matt Brady
Skyline Home Loans - Del Mar, CA
Lending With Competence And Character

Boy you really have to spell and grammar check when you use a voice enabled typing app.

Jan 25, 2018 12:53 PM #1
Rainmaker
1,745,110
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Matt Brady - You summed up the Market Trends for CA and TX too! And you did so accurately and up-to-date. I really liked how you wrote up this report. It is really, really great!

Feb 19, 2018 04:15 PM #2
Rainmaker
371,175
Matt Brady
Skyline Home Loans - Del Mar, CA
Lending With Competence And Character

Thanks, Patricia Feager. Texas seems to be faring better than most areas of the country.

Feb 19, 2018 05:30 PM #3
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Rainmaker
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Matt Brady

Lending With Competence And Character
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